Subscribe
Sign up for our daily email newsletter and get the latest business news delivered straight to your inbox. Fill out the form below to join our growing community of informed professionals, or email us at publications@sheppard.tt
Local News
Economists Say PM’s Meeting With Banks On Forex A Good Start
Economist Dr Marlene Attzs says Prime Minister Stuart Young’s decision to speak with leaders of commercial banks on the country’s foreign exchange issues is a good start, but the conversation needs to go beyond that. Attzs said the issue is complex and the conversation should include the manufacturing sector as a forex earner.
Tobago Chamber Hopes Crime Won’t Spike When SoE Ends
Tobago’s business community is hopeful that crime will stay under control once the state of emergency (SoE) is lifted. Curtis Williams, chairman of the Tobago Division of the T&T Chamber of Industry and Commerce, is worried that progress in restoring security and reducing crime might not hold. However, he is optimistic that strong coordination among the police, army, and other security forces will be key in maintaining the low crime levels.
Sandals Mulls US$7B Sale, WSJ Reports
Sandals Resorts International, which former prime minister Dr Keith Rowley announced last weekend would return to Tobago next month to reassess investment opportunities, is reportedly restarting efforts to sell itself, according to The Wall Street Journal (WSJ).
ANSA Merchant Bank Profits Rise 25.5%
ANSA Merchant Bank Ltd yesterday reported after-tax profits of $162.24 million for the financial year ended December 31, 2024, a 25.5 per cent increase compared to the $129.29 million the company earned in 2023. ANSA Merchant Bank is a publicly listed financial company that provides banking and insurance solutions, comprising ANSA Merchant, ANSA Bank, Tatil, Tatil Life, Colfire in T&T and Trident in Barbados.
ANSA McAl Reports Growth In Both Revenue And Profit
Building on the record-breaking achievements of 2023, we continued our upward trajectory with strong financial and operational results: Revenue grew by 5% to $7.400B, Adjusted EBITDA increased 11% to $1.518B, Profit Before Tax (PBT) increased by 8% to $906M.
PM Prioritises Forex Allocation
Newly minted Prime Minister Stuart Young will meet the banking sector next Tuesday concerning the allocation of foreign exchange to the public. The Prime Minister made the announcement during the post-Cabinet news conference yesterday, at which he said new Minister of Finance Vishnu Dhanpaul would also be a part of the meeting.
Shell Aims To Bring Gas From Venezuela To Trinidad In 2026
Shell Plc is aiming to begin producing natural gas at Venezuela’s Dragon gas field and exporting it to neighboring Trinidad and Tobago in 2026, a year ahead of the original 2027 start date, according to two people familiar with the project.
Maintain Alternate Suppliers, Market
As global trade wars continue, Minister of Trade and Industry Paula Gopee-Scoon is advising the private sector to remain vigilant regarding the overall trade landscape. Speaking to members of the media following the unveiling of two new, state-of-the-art machines by the National Flour Mills Ltd (NFM) on Tuesday, Gopee-Scoon said this country is currently not experiencing any trade issues apart from the fact that there is a need to ensure that the private sector looks at all the possibilities with regard to its imports and the ability to source imports from diverse markets.
Inflation Rate Stays Unchanged At 0.7%
The rate of inflation in the country has remained unchanged at 0.7%. This according to the Central Statistical Office (CSO), which said the inflation rate for February 2025, which measures the percentage change in the All Items Index for the month of February 2025 over February 2024, was 0.7%.
Regional News
Guyana Considering Approval For New Airstrip At Charity
Minister of Public Works Bishop Juan Edghill has announced that the government is considering granting approval for the construction of a new airstrip at Charity. The minister made this disclosure during a meeting with residents at Charity on Friday.
Guyana PM Concerned About US tariffs On Chinese Ships
President Irfaan Ali has voiced concern over US President Donald Trump’s plan to impose tariffs on ships/vessels, made in China, saying this could impact trade in Guyana and the region. In a statement Saturday, Ali said Guyana, Suriname, Trinidad and Tobago would need to assess the implications for tankers and other vessels transporting oil and gas.
Global Financial System Failing Climate Vulnerable Nation
The current global financial system is failing to address the urgent climate and development crisis impacting small island developing states, according to permanent secretary in the Ministry of Economic Affairs and Investment in Barbados Patrick McCaskie.
Guyana: G Mining Ventures Initiates Early Site Preparation At Oko West Gold Project
G Mining Ventures Corp. has marked a significant milestone in the development of its Oko West Gold Project in Guyana by commencing site preparation activities. According to a press release, this move follows the receipt of an Interim Environmental Permit (IEP) from the Guyana Environmental Protection Agency (EPA) in January 2025, which has enabled the company to initiate early construction works ahead of schedule.
CARICOM Leaders To Meet Virtually Ahead Of Rubio Visit To Jamaica
Caribbean Community (CARICOM) leaders are scheduled to meet on Friday before the arrival of United States Secretary of State, Marco Rubio, in Jamaica on Wednesday, according to well-placed sources who spoke to the Caribbean Media Corporation (CMC) on Thursday.
CDB Forecasts Caribbean Growth Of 4.6 %
Driven by continued economic expansions in the oil-rich territory of Guyana, the Caribbean Development Bank (CDB) said it expects regional growth to average 4.6 per cent this year.
Guyana Remains A ‘Significant Influence’ In Regional Economic Growth
Guyana has emerged as a ‘significant influence’ on Caribbean economic growth, with the region reporting an 8.8 per cent growth in 2024. Examining the region’s key economic trends, The Caribbean Development Bank’s (CDB’s) Director of Economics, Ian Durant, told a Wednesday press conference, that Guyana was a standout performer among the financial institution’s member states with its economy surging by 43 per cent.
CDB Warns Against Tourism Over-Dependence
The Caribbean is being urged to place more emphasis on climate change resilience and diversification away from tourism dependent economies. These suggestions were among the development imperatives put forward by Ian Durant, director of economics at the Caribbean Development Bank (CDB) at its annual news conference yesterday at the Errol Barrow Centre for Creative Imagination in Barbados.
US Threat To Chinese Shipping Could Hike Regional Costs By 50%
The world is in a whirlwind of trade wars due to tariffs that have been threatened to be imposed by United States President Donald Trump. Still, Caricom countries are is hoping to avoid severe economic fallout as a result of another US policy.
International News
Software Maker SAP Unseats Novo Nordisk As Europe’s Largest Company
German software company SAP overtook Danish healthcare company Novo Nordisk as Europe’s largest company by market capitalisation on Monday. At 0900 GMT, SAP had a market cap of $340 billion, slightly more than Novo Nordisk, according to Reuters calculations using LSEG Workspace data.
Deutsche Bank Plans Euro AT1 Sale With A 7.75% Coupon
Deutsche Bank AG (DBK.DE) is selling a euro-denominated Additional Tier 1 bond, with the initial pricing indicating it will pay a coupon of around 7.75%, according to a person familiar with the matter who asked not to be identified.
First-Quarter US Earnings Outlook Looks Less Rosy With Tariff Worries In Focus
Analysts are turning more cautious on U.S. corporate earnings for the first quarter of this year, with the Trump administration’s policies threatening to trigger a global trade war that could undermine economic growth.
US Futures Rally As Traders Dive Back Into Tech
US stock futures rallied, with futures on the Nasdaq 100 Index surging 1.2%, as traders snapped up beaten down tech shares and took optimism from signs that US tariffs may be more targeted.
Nike Trips As Forecast Of Another Sales Decline Dims Quick Turnaround Hopes
Nike shares slipped nearly 6% premarket on Friday after the sportswear giant warned of another quarter of sales decline, leaving some investors worried about the pace of a crucial turnaround under new CEO Elliott Hill.
J&J Boosts Investments In US To More Than $55B
Johnson & Johnson plans to spend over $55 billion to build four plants in the U.S., it said on Friday, as a threat of drug import duties from the Trump administration forces companies to expand their manufacturing operations domestically.
FedEx Shares Slide
FedEx’s shares fell 8% premarket on Friday after the parcel delivery firm cut its annual forecasts, fanning worries about the health of U.S. manufacturing amid uncertainty from the Trump administration’s sweeping tariffs on trading partners.
Stocks Slip As Company Results Add To Tariff Gloom
Global stocks stumbled as a batch of downbeat corporate earnings fanned fresh concerns in a market that’s already grappling with the prospect of a damaging US trade war.
Hapag-Lloyd Posts 19% Lower Net Profit In 2024, To Cut Dividend
Container shipping liner Hapag-Lloyd on Thursday reported an 18.9% lower net profit for 2024 and proposed a 11.4% cut in its divided versus 2023, citing lower interest income and higher tax expenses.
Reports
US Federal Funds Target Rate – March 2025
On March 19, 2025, the Federal Open Market Committee (FOMC) announced its decision to keep the target range for the federal funds rate at 4.25% to 4.50%. However, officials at the central bank still anticipate cutting the fed funds rate 0.5%, to a range of 3.75% to 4%, by the end of 2025.
Earnings News – February 2025
In February, Massy Holdings (MASSY) grew, helped by a 6% uplift in Revenue and a 2% rise in Profit After Tax. This increase was driven by the robust performance of the Group’s various portfolios and was accompanied by an improvement in its cash position.
Earnings News – January 2025
US Federal Funds Target Rate – January 2025
On January 29th, 2025, the decision was made by the Federal Open Market Committee (FOMC) to maintain its target range for the federal funds rate at 4.25%-4.50%. This interest rate decision was informed by the Fed’s dual mandate to foster full employment and keep prices low and stable.
Local Equity Market Overview – 4Q 2024
Locally, indicators of economic activity were somewhat positive, with growth in the non-energy sector partially offsetting declines in energy sector, which faced challenges due to constraints in natural gas availability.
Earnings News – December 2024
Offshore Series Factsheets – December 2024
Pelagic Series Factsheets – December 2024
Is Your Business Healthy?
With the turn of the calendar comes important personal health checks — the kind of things you do annually to make sure you’re staying on top of your well-being. It may be tempting to avoid these checkups. I mean, “If it ain’t broke, don’t fix it,” right? Yet, we don’t always know we’re “broken” until we look more closely. And we can’t get healthier if we don’t get checkups, set goals and work toward them.